This is the data for line 1i and 1l for hypothetical return if you had the right click feature.
Line 1i, columns A, B and C:
If any of the income included on Line 1h for this country on this copy of the
Foreign Tax Credit Worksheet is section 1250 recapture income (subject to a
maximum 25% rate), enter the amount of such income here.
Form 1116 (COPY 1) -- Foreign Tax Credit Comp
Wks : Adjusted QDI income
Line 1l, columns A, B and C:
If the Foreign Qualified Dividends and/or Capital Gains Adjustment Smart
Worksheet checkbox is not checked,
from Line 1f.
Otherwise, from Line 1g, plus the result of one of the following calculations,
depending on whether the Schedule D Tax Worksheet or the Qualified Dividends
and Capital Gain Tax Worksheet is used:
If Schedule D Tax Worksheet is used.
- Line 1j multiplied by the Sch D Tax
Worksheet, line 40, divided by the Sch D Tax Worksheet, line 11a. The result is
multiplied by .7071.
PLUS
- Line 1j multiplied by the Sch D Tax
Worksheet, line 11a minus line 40, divided by the Sch D Tax Worksheet, line
11a.
PLUS
- Line 1i multiplied by the Sch D Tax
Worksheet, line 37, divided by the Sch D Tax Worksheet, line 11b. The result is
multiplied by .6313.
PLUS
- Line 1i multiplied by the Sch D Tax
Worksheet, line 11b minus line 37, divided by the Sch D Tax Worksheet, line
11b.
PLUS
- Line 1h minus line 1i minus line 1j,
with the result multiplied by the following ratio:
-- Sch D Tax Worksheet, line 31,
multiplied by .5051, plus
-- Sch D Tax Worksheet, line 28,
multiplied by .3788.
-- The sum of the above two lines is
divided by the sum of Sch D Tax Worksheet, lines 20, 28, and 31. The result is
the ratio to be used. If the sum of lines 20, 28, and 31 is 0, the ratio is
defined as 1.
NOTE: With the exception of the last line for how to calculate the ratio, the
result of any calculation which has a 0 as a denominator is defined as 0.
Schedule D Tax Worksheet Line 40
http:
Schedule D Tax Worksheet Line 11a
0.
Schedule D Tax Worksheet Line 37
http:
Schedule D Tax Worksheet Line 11b
http:
Schedule D Tax Worksheet Line 31
0.
Schedule D Tax Worksheet Line 28
65,000.
Schedule D Tax Worksheet Line 20
0.
If Qualified Dividends and Capital Gain Tax Worksheet is used.
- Line 1h multiplied by the following
ratio:
-- Qualified Dividend/Capital Gain
Wksht, line 22, multiplied by .5051, plus
-- Qualified Dividend/Capital Gain
Wksht, line 19, multiplied by .3788.
-- The sum of the above two lines is
divided by the sum of the Qualified Dividend/Capital Gain Wksht, lines 11, 19,
and 22. The result is the ratio to be used. If the sum of lines 11, 19, and 22
is 0, the ratio is defined as 1.
Qualified Dividend and Capital Gain
Tax Line 22
0.
Qualified Dividend and Capital Gain
Tax Line 19
65,000.
Qualified Dividend and Capital Gain
Tax Line 11
0.
NOTE: Calculated result may be adjusted by up to $2 to allow columns A, B, and
C to add up to the Total column after accounting for rounding.
